Building Loans (Miscellaneous Provisions) (Amendment No. 19) (Jersey) Regulations 1989

Jersey R & O 7984

 

Building Loans (Jersey) Law, 1950.

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BUILDING LOANS (MISCELLANEOUS PROVISIONS) (AMENDMENT No. 19) (JERSEY) REGULATIONS, 1989.

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(Promulgated on the 11th day of October, 1989.)

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STATES OF JERSEY.

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The 10th day of October, 1989.

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THE STATES, in pursuance of Article 15 of the Building Loans (Jersey) Law, 1950, as amended,1 have made the following Regulations –

 

Alteration of financial limits in respect of loans

1.-(1)  Paragraph (2) of Regulation 5 of the Building Loans (Miscellaneous Provisions) (Jersey) Regulations, 1961, as amended,2 (hereinafter referred to as “the principal Regulations”) shall be deleted.

(2)     In Regulation 6 of the principal Regulations –

(a)     for paragraph (1) there shall be substituted the following paragraph –

“(1)        Subject to the provisions of these Regulations, loans may be made if the complete value of the property on which the loan is to be secured does not exceed £65,000 in an amount not exceeding £60,000.”;

(b)     in paragraph (3) –

(a)     the words “sub-paragraph (a) of paragraph (1) of ” shall be deleted;

(b)     the words “and not less than seven per cent in the case of a loan made under sub-paragraph (b) of that paragraph,” shall be deleted.

 

Citation and commencement

2.             These Regulations may be cited as the Building Loans (Miscellaneous Provisions) (Amendment No. 19) (Jersey) Regulations, 1989 and shall come into force forthwith on promulgation.

 

R.S. GRAY

 

Deputy Greffier of the States.



1        Receuil des Lois, Tome VII, page 675.

2        Nos. 4204, 6654 and 7183.


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